Survey reflects concerns among small business owners

Northwestern Financial Review, Jul 15-Jul 31, 2008

According to the most recent Wells Fargo/Gallup Small Business Index survey, more than one-third of small business owners said that their personal financial situation as a whole is getting worse. Half of the business owners surveyed said they've postponed a major purchase in the past three months, and nearly as many (44 percent) said they've reduced the amount of money they've deposited into savings, checking or a CD.

Thirty-one percent said they have reduced the amount they have contributed to a retirement account. Seventy-five percent of small business owners also show concern about paying for gas. More than half (51 percent) are worried they will not have enough money for the next 12 months' regular medical and dental expenses, and almost half (46 percent) fear they will not have enough money to pay for unforeseen medical emergencies.